WSFS Financial (NASDAQ:WSFS) Now Covered by DA Davidson

Analysts at DA Davidson assumed coverage on shares of WSFS Financial (NASDAQ:WSFS) in a research note issued to investors on Wednesday. The firm set a “neutral” rating and a $74.00 price target on the bank’s stock. DA Davidson’s price objective would indicate a potential upside of 12.96% from the company’s current price.

Other equities analysts also recently issued reports about the company. Piper Sandler upped their price target on WSFS Financial from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods raised their price objective on WSFS Financial from $63.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Zacks Research raised WSFS Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, Stephens reaffirmed an “overweight” rating and set a $71.00 price target (up from $66.00) on shares of WSFS Financial in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.80.

WSFS Financial Price Performance

WSFS Financial stock opened at $65.51 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $61.02 and a 200-day simple moving average of $57.19. The stock has a market cap of $3.58 billion, a P/E ratio of 12.85 and a beta of 0.79. WSFS Financial has a 12-month low of $42.44 and a 12-month high of $71.32.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings results on Monday, January 26th. The bank reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.17. The company had revenue of $90.08 million for the quarter, compared to analysts’ expectations of $267.36 million. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.WSFS Financial’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $1.11 earnings per share. Equities analysts expect that WSFS Financial will post 4.47 EPS for the current fiscal year.

Insider Activity at WSFS Financial

In other news, EVP Arthur J. Bacci sold 2,005 shares of WSFS Financial stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $70.51, for a total value of $141,372.55. Following the sale, the executive vice president owned 26,366 shares of the company’s stock, valued at $1,859,066.66. The trade was a 7.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James J. Wechsler sold 450 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $69.89, for a total transaction of $31,450.50. Following the transaction, the executive vice president owned 5,777 shares in the company, valued at approximately $403,754.53. This trade represents a 7.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,455 shares of company stock worth $242,923 in the last three months. Insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On WSFS Financial

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of WSFS Financial during the 4th quarter worth approximately $39,193,000. Goldman Sachs Group Inc. raised its position in WSFS Financial by 71.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 470,191 shares of the bank’s stock worth $25,973,000 after acquiring an additional 195,979 shares in the last quarter. Edgestream Partners L.P. purchased a new position in WSFS Financial in the second quarter worth $8,834,000. Citadel Advisors LLC lifted its holdings in WSFS Financial by 1,190.1% in the third quarter. Citadel Advisors LLC now owns 153,234 shares of the bank’s stock valued at $8,264,000 after acquiring an additional 141,356 shares during the period. Finally, Cooke & Bieler LP boosted its position in shares of WSFS Financial by 15.5% during the 3rd quarter. Cooke & Bieler LP now owns 1,031,956 shares of the bank’s stock worth $55,653,000 after purchasing an additional 138,220 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Company Profile

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.